Herald Holdings Limited announced that Mr. Thong Yeung Sum Michael (Mr Thong) retired as an executive director and the Managing Director of the company at the conclusion of the annual general meeting of the company held on 16 September 2013 and did not offer himself for re-election due to his other personal commitments. Mr. Thong also ceased to be a member of the Remuneration Committee and an authorized representative of the company. Immediately after Mr. Thong's retirement and with effect from 16 September 2013, Mr. Tang King Hung (Mr. Tang), an executive director of the company, has been appointed as the Managing Director, a member of the Remuneration Committee and an authorized representative of the company.